SpaceX began trading publicly on the Nasdaq exchange in New York on Friday, marking the end of its nearly 25 years as a private company.
The company opened at $135 per share, giving it a valuation of nearly $1.8 trillion. Shares closed at $160.95, an increase of more than 19 percent.
SpaceX founder Elon Musk now holds a stake valued at more than $700 billion, making him the world's first trillionaire. Thousands of current and former employees also became millionaires through stock options.
The company has stated in filings that the majority of its value comes from AI services, primarily through orbital data centers, rather than its Starlink constellation or NASA contracts.
Trading platform Robinhood reported record traffic and intermittent issues for users trying to access the stock.
